Part of being a professional is knowing when to move on and to do so in a professional way.
Taking a job, whether as an employee or as a contractor, is not the same thing as entering into a marriage. You are there to do your best work for your employer or client, but if things change and you need to go, be a professional and move on.
Continuing in a contract or job with which you are unfulfilled, unchallenged, or unhappy is a recipe for burn-out. And burn-out does much more than merely make your work less effective: it leads to potentially acute stress, which affects your sleep, health, short-term memory, and much more.
Get out. Don’t burn bridges, but be a professional and move on.
Whether you are looking to make a change because of something on your part (changes in your family, new opportunities, etc.), or something on your employer’s or client’s part (changes in work conditions, an abusive co-worker, etc.), almost no position lasts forever. This is a good thing: we grow and develop professionally by taking on new challenges.
Staying in a position simply because of the income or because you dread the process of breaking ties does nobody a favor: not you, and not your employer or client. Try to time it to have as little impact on your client or employer as possible, but do what you must.
If your employer or client is truly a professional, then he or she will understand and be supportive. If not, then it is even better that you get away.
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